Innospec (NASDAQ:IOSP) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Innospec Inc. (NASDAQ:IOSP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $78.84 and traded as high as $83.22. Innospec shares last traded at $83.02, with a volume of 142,361 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IOSP. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Innospec Price Performance

The firm has a market capitalization of $2.08 billion, a PE ratio of 18.36, a P/E/G ratio of 2.31 and a beta of 0.93. The business has a 50-day simple moving average of $81.74 and a 200-day simple moving average of $78.89.

Innospec (NASDAQ:IOSP) last announced its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The firm had revenue of $453.20 million during the quarter, compared to analysts’ expectations of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. On average, research analysts expect that Innospec Inc. will post 4.8 earnings per share for the current year.

Innospec Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.92 per share. This represents a yield of 239.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Innospec’s payout ratio is presently 40.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IOSP. EverSource Wealth Advisors LLC raised its stake in shares of Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares during the period. Hantz Financial Services Inc. grew its holdings in Innospec by 271.0% during the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 420 shares during the last quarter. Allworth Financial LP grew its holdings in Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares during the last quarter. Danske Bank A S purchased a new stake in Innospec in the 3rd quarter worth about $46,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Innospec by 316.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 503 shares during the period. Institutional investors own 96.64% of the company’s stock.

Innospec Company Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.